Hitherto, a magnetic alloy containing nickel and iron (available commercially under the trademark "Permalloy") which is high in permeability has been widely used as the core material of a magnetic head. Such an alloy is superior in magnetic characteristics but is bad in wear resistance. A magnetic head made of Permalloy type alloy is much abraded when used for recording and/or reproducing on and/or from a magnetic tape which uses powders of chromium dioxide (CrO.sub.2) as magnetic powders, and such tapes have been widely used recently. Thus, such a magnetic head not only cannot be used for a long time period but also experiences changes in electric characteristics as a magnetic head during its use life.
To this end, a magnetic alloy which is improved in wear resistance has been proposed, but this magnetic alloy is bad in magnetic characteristics and is difficult to heat treat during manufacturing. Accordingly, such magnetic alloy has not been used generally.